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Fixed Rate 5 Year Mortgage - A Terrible Mistake?
Hi guys, After reading on here two weeks ago about things in the economy going belly up, and panicking a bit when the banking bail out couldn't be reached in the US, I quickly took out a 5 year fixed Mortgage @ 5.89% with Halifax. Now it seems like after an interest rate cut, and now a small 0.15% libor cut, and the banks…
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second time buyer needs advise
Me and my partner have had a mortgage for 4 years in Edinburgh and are looking to relocate to manchester. We have never missed a mortgage payment. and we are looking to buy a house cheaper then what we currently are going to sell our place for. The problem is that we do have bad credit after getting into difficulty last…
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Broker advice
our broker found us a deal with birmingham midshires which was declined due to my very low credit score, following me being recently discharged from bankruptcy. i pointed him in the direction of "mbs lending" and he contacted them after we were turned down by the midshires and they said they would be happy to accept our…
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Northern Rock final payment fees
Hi there. we are coming to the end of our fixed rate deal with NR and have successfully got another good deal with the Woolwich. However, when we asked the NR for a final payment figure, they have added on a £1000 fee for "help with costs". They tell me this is a figure which they seemingly gave me when I remortgaged 3…
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First Direct Mortgage - Help
Need help urgently just had a call from first direct as some of u know I've applied for the 0.79% tracker basically I sent them my bank statements showing my wages going into my HSBC account each month. I have another account with Lloydstsb where all my direct debits come out and my current mortgage direct debit with rbs…
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Help please
Hello I recently got my fist mortgage. It's a 95% mortgage, 5 year fixed rate. I am pretty new to all this.... I'm looking for a bit of advice on what to do when the 5 years is up. What happens? Obviously I need to find a new mortgage, but do I need a large deposit again, or does it work differently to that? Hope someone…
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Are My calcs wrong for my mortgage ( Help needed)
Hi I have a £80.685 mortgage split this way £45.061 Interest only 25 year £35.624 Repayment 15 year term Both with the same lender at Interest rate 5.85% paying £647 a month. I have looked at morgagage calculaters and all have have said I should be be paying around the £550 mark . Do you think that the mortgage company are…
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what is taken as mortgage income
Hi I need some help I have just split from my husband and need to think about looking for a house and mortgage for myself and our son. When looking for a mortgage, what do companies take into consideration as income, if it is just salary, I think that there is no way I will every buy, My situation is annually, my income is…
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Anyone got a FIRST DIRECT Offset Base Rate Tracker mortgage?
Hiya folks, With Halifax at moment, been fixed at 5.85% for past few years. Need to remortgage by end of December. Only just over £30,000 left, house worth (taking into account recent falls) around £110,000 (approx 27% LTV?). Will probably take it out for minimum term (5 years?) Currently looking for the best Offset…
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Help understanding Re-mortgage of a repayment mortgage
I wonder if someone can shed any light on this for me. I currently have a 30 year repayment mortgage on a 2 year tracker deal. I understand that in the first few years it just pays off mostly interest and does not really eat away at the actual loan. But when I come to remortgage next year, if I move to another deal with a…
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Negotiating Exit Fees?
My Partner is wanting to sell her Flat as she lives with me now. She is 2 years into a 6 years fixed rate deal and if she sells will have to pay a penalty of over £3000. Is their any scope for negotiating with them? I'm 6 months into 2 year Tracker deal with Halifax and when this is up I plan to sell so we can get a joint…
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Mortgage Reserve - Use it or Not ?
I have a offset mortgage with Barclays and currently have a reserve set at £41,000 my problem is as follows: The last 18mths I have had a back problem and the treatment has been costing me around £500 a month this has eaten into my savings and my current financial position is that I earn around £65k pa + I get a bonus in…
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Tracker mortgage - rate going down?
Hi all, I recently got a Tracker mortgage with Lloyds TSB - this was a renewal after my 3 year fixed rate at a nice and low 4.3% came to an end :cry: Anyway, this all went through in September and the terms were: 0.89% above the BOE base rate, which was then 5%. Does the recent drop in interest rates mean that my new rate…
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Splitting up, what to do with joint mortgage?
Splitting up, what to do with joint mortgage.
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what my best option
yes im on off those nr customer on a 2 together mortgage in a way im one off the lucky ones as yet im not in negative equity. i owe bout £136000 when i remortgage next year it be about £135000 at present my property is valued at bout £175000. the thing is i dont think i will beale to remortgage due to think fact i have not…
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When can i re-apply for a mortgage?
Me & my husband have just applied for a mortgage with Natwest, unfortunately it has been refused due to a problem on his credit report. We got a copy of the report & it was a direct debit that was not paid due to changing bank accounts & moving house. We have contacted this company & have settled the account. They said…
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Remortgage nightmare!
Hello all. Following on from an earlier post we have now remortgaged and have finally had the 'numbers' from Nationwide. For reasons that I still don't understand, we are having to find an extra £750 to pay Nationwide for additional interest in our first month. I understand that we have to pay interest for every day that…
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FD 0.49% tracker and the completion fee issue
Hi All As some of you may recall, Im remortgaging onto First Direct's +0.49% tracker having originally applied for their +0.99% (then subsequently +0.79%) fee free tracker. I made this jump the day after they announced the offer about 5-6 weeks ago, and when I phoned to confirm I wanted to change, I asked what fees were…
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Is Now A Good Time To Reduce My Mortgage?
With all the financial stuff going all over the place, I'm wondering specifically: next March my 2 year fixed rate deal (4.95%) is up. At the moment I have £50,000 in various accounts/bonds paying between 6-6.5% and I use the monthly interest payments to part pay my monthly mortgage payments (can't repay earler 'cos of…
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Lloyds TSB endowment surrender value?
Have an endowment from Lloyds TSB wanted to find out what the surrender value is. Is there an easy website where I can just put in the details and get the value without having anyone calling me about it?
